Use Government Websites to Help Manage Record Keeping

Federal and state governments have record keeping requirements that small and large businesses are expected to meet.   If record keeping requirements exist, a government website almost certainly will identify, explain, and provide other details about the requirements. 

A good strategy for a company is to establish the correct record keeping policy, which it seems to me means spending enough resources on keeping the records to meet the company and government needs without spending more than the necessary resources.  In establishing this policy, the company should use the Internet to go to the government websites dealing with record keeping requirements in order to clarify with certainly what is needed and what is not needed.    Knowing the requirements at these websites will help to insure that sufficient, but not excessive, resources for record keeping are used.

Many functions in a business operation may, or do, require record keeping.  Some functions such as sales and employing workers have record keeping requirements for all businesses.  Other functions such as transportation, export-import, and safety-related activities have record requirements for those companies involved with the functions.   Regardless of the business operations that exist, government websites will provide the information needed to help optimally manage the record keeping requirements.

Provided below are some links to government websites that demonstrate what is available at government websites.

Sales, revenues, and income.   The Internal Revenue Service has established record keeping requirements related to these business functions.  And, the IRS has websites that explain these requirements. Click here and here to go to two such websites.

Employee records.  The US Department of Labor oversees federal record keeping requirements for hiring, paying, terminating, and other activities related to a company’s employing workers. Click here to go a DOL site from which employee record keeping requirements can found.

In addition to federal record keeping requirements related to income and employees, and other business functions, states may also have additional requirements.  State government websites will have these requirements.  As part of the company strategy to develop an efficient and effective record keeping policy, these state websites should also be researched.